Retirement Systems of Alabama Invests $28.13 Million in Expand Energy Corporation (NASDAQ:EXE)

Retirement Systems of Alabama purchased a new position in shares of Expand Energy Corporation (NASDAQ:EXE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 252,691 shares of the company's stock, valued at approximately $28,130,000. Retirement Systems of Alabama owned 0.11% of Expand Energy at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Expand Energy in the 1st quarter valued at approximately $36,507,000. Parallel Advisors LLC bought a new stake in shares of Expand Energy in the first quarter worth $286,000. Doliver Advisors LP acquired a new stake in shares of Expand Energy in the first quarter valued at about $446,000. Peoples Bank KS acquired a new position in shares of Expand Energy in the first quarter worth approximately $33,000. Finally, Fifth Third Wealth Advisors LLC bought a new stake in Expand Energy in the first quarter valued at approximately $466,000. 97.93% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have commented on EXE shares. Stephens cut their price target on shares of Expand Energy from $123.00 to $118.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 15th. Mizuho boosted their target price on shares of Expand Energy from $136.00 to $141.00 and gave the company an "outperform" rating in a research report on Tuesday, May 13th. Benchmark upped their price objective on shares of Expand Energy from $93.00 to $112.00 and gave the company a "buy" rating in a report on Thursday, April 3rd. Jefferies Financial Group set a $135.00 target price on Expand Energy and gave the company a "buy" rating in a research report on Saturday, June 14th. Finally, Truist Financial cut their price target on Expand Energy from $133.00 to $131.00 and set a "buy" rating on the stock in a report on Monday, March 17th. One equities research analyst has rated the stock with a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Expand Energy currently has a consensus rating of "Buy" and an average price target of $127.55.

Expand Energy Stock Performance

EXE stock traded up $1.08 during midday trading on Tuesday, reaching $122.53. 3,870,387 shares of the company's stock traded hands, compared to its average volume of 3,378,518. Expand Energy Corporation has a 52 week low of $81.66 and a 52 week high of $123.35. The company has a 50-day moving average price of $112.36 and a two-hundred day moving average price of $106.14. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.59 and a current ratio of 0.59. The firm has a market capitalization of $29.16 billion, a PE ratio of -22.86 and a beta of 0.49.

Expand Energy (NASDAQ:EXE - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.02 earnings per share for the quarter, beating the consensus estimate of $1.85 by $0.17. Expand Energy had a positive return on equity of 4.64% and a negative net margin of 18.49%. The firm had revenue of $2.20 billion for the quarter, compared to analysts' expectations of $2.10 billion. As a group, equities analysts anticipate that Expand Energy Corporation will post 1.33 EPS for the current year.

Expand Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, June 4th. Investors of record on Thursday, May 15th were paid a dividend of $0.575 per share. This represents a $2.30 annualized dividend and a yield of 1.88%. The ex-dividend date of this dividend was Thursday, May 15th. Expand Energy's dividend payout ratio is -42.91%.

Expand Energy Profile

Expand Energy Corporation is an independent natural gas producer principally in the United States. Expand Energy Corporation, formerly known as Chesapeake Energy Corporation, is based in OKLAHOMA CITY.